Navigation Links
PDL BioPharma Announces Internal CEO Investigation Found No Credible Evidence of Improper Personal Conduct or Breach of Fiduciary Duty
Date:8/20/2007

- Despite outcome, CEO Mark McDade to resign for personal reasons -

FREMONT, Calif., Aug. 20 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) today announced that a three-month internal investigation of the company's chief executive officer (CEO), Mark McDade, found no credible evidence of improper personal conduct or breach of fiduciary duty by McDade to corroborate the various allegations investigated. The company also announced that McDade, following the investigation and due to the personal toll created by the unsubstantiated rumors and related investigation, has decided to step down as CEO and a member of the board by the end of 2007. The company's board of directors will initiate a CEO search immediately and has formed a committee of independent directors to conduct the search. Separately, the board continues its ongoing corporate strategic review, which has been aided by Merrill Lynch & Co., and anticipates providing an update in the future.

The Audit Committee of the board conducted an extensive independent investigation of a number of allegations that have been made publicly regarding McDade, primarily focused on allegations published in filings with the Securities and Exchange Commission by one of PDL's stockholders. The Audit Committee engaged two independent law firms to assist in conducting the investigation, which included interviews with dozens of individuals inside and outside PDL, as well as the comprehensive review of email communications and other documents. Among the findings, the investigation determined that there was no credible evidence of a conflict of interest relating to an alleged relationship between McDade and another officer of the company, that there was n
'/>"/>

SOURCE PDL BioPharma, Inc.

Copyright©2007 PR Newswire.

Page: 1 2 3 4

Related biology technology :

1. Speaker announces business members of IT Task Force
2. Doyle announces technology tax credits for Berbee
3. Doyle announces new energy, global warming policies
4. Doyle announces $80M renewable energy strategy
5. GE announces first installation of Discovery VCT
6. UWM announces winners of RGI awards
7. Third Wave announces two senior management appointments
8. Mirus announces new method for making antibodies
9. Merge announces sofware updates, upcoming acquisition
10. Small Tree announces ethernet solution for Apple Xserv G5
11. TEKLYNX International announces new RFID software
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/17/2014)... December 16, 2014 “Never say, ... Philipps- Universität Marburg’s Department of Physics, advises young ... the newly released SPIE Women in Optics ... too shy to ask questions.” , In the ... and mathematics) occupations ranging from university professor and ...
(Date:12/17/2014)... December 17, 2014 Xeno Diagnostics ... following its most recent COLA inspection. Xeno has ... a national healthcare accreditation organization. Accreditation is earned ... quality in day-to-day operations, demonstrate continued accuracy in ... rigorous on-site laboratory survey. , While ...
(Date:12/17/2014)... Md. , Dec. 17, 2014 CASI ... company dedicated to the acquisition, development and commercialization of ... for the global market with a primary commercial focus ... it has been granted a Type C meeting with ... the meeting will be held in February 2015.  During ...
(Date:12/15/2014)... DIEGO , Dec. 15, 2014 ... three-dimensional biology company focused on delivering breakthrough 3D ... the industry and collaborators of its exVive3D TM ... made widely available in full commercial release on ... the field, resulting in several awards for innovation. ...
Breaking Biology Technology:Network, Multitask, Persevere: SPIE Women in Optics Planner Subjects Share from Experience 2Network, Multitask, Persevere: SPIE Women in Optics Planner Subjects Share from Experience 3Xeno Diagnostics Receives 3rd Award for Laboratory Excellence 2CASI Pharmaceuticals Granted Type C Meeting With U.S. FDA For ENMD-2076 In Fibrolamellar Carcinoma 2CASI Pharmaceuticals Granted Type C Meeting With U.S. FDA For ENMD-2076 In Fibrolamellar Carcinoma 3CASI Pharmaceuticals Granted Type C Meeting With U.S. FDA For ENMD-2076 In Fibrolamellar Carcinoma 4CASI Pharmaceuticals Granted Type C Meeting With U.S. FDA For ENMD-2076 In Fibrolamellar Carcinoma 5Organovo Celebrates a Positive 2014 Reception of its exVive3DTM Human Liver Tissue Product 2Organovo Celebrates a Positive 2014 Reception of its exVive3DTM Human Liver Tissue Product 3
... SCOTTSDALE, Ariz., Sept. 14 CHS, an inVentiv,Health company ... U.S. Department,of Defense as a recipient of the 2007 ... by the National Committee of Employer,Support of the National ... America,s employers who provide support to their employees,serving in ...
... SOUTH SAN FRANCISCO, Calif., Sept. 14 ,Exelixis, ... the company has,submitted a comprehensive data report relating ... 2007, GSK requested to initiate its review of,XL880 ... the,product development and commercialization agreement between the two,companies. ...
... (Nasdaq: HALO ), a biopharmaceutical company developing and,commercializing ... Lim, MD, Halozyme,s President and Chief Executive Officer,will present ... be held at,the Grand Hyatt Hotel in New York ... (6:00 a.m. Pacific time). Interested parties can access ...
Cached Biology Technology:CHS Receives Prestigious Honor from Department of Defense 2CHS Receives Prestigious Honor from Department of Defense 3Exelixis Submits XL880 Diligence Report to GlaxoSmithKline 2Halozyme Therapeutics to Present at UBS 2007 Global Life Sciences Conference 2
(Date:12/10/2014)... , December 9, 2014 ... ITN,s BCARD Platform   ... enterprise meeting scheduling solutions for business-to-business (B2B) events, ... world leader in mobile near-field communication (NFC), Bluetooth ...      (Logo: http://photos.prnewswire.com/prnh/20140612/691055) , Jifflenow ...
(Date:12/4/2014)... , Dec. 3, 2014  Crossmatch™, a leading ... that its DigitalPersona ® Pro Enterprise software ... been deployed throughout First Bank branch locations in ... South Carolina and Virginia. First Bank, a ... Southern Pines, North Carolina , selected the ...
(Date:11/21/2014)... According to a new market ... RFID, Access Control, Intrusion Detection, Parking Management, Under Vehicle ... Service Geography - Global Forecasts to 2020", published by ... be around $25 Billion in 2014 and is expected ... CAGR of 8.69%. Browse 116 market data ...
Breaking Biology News(10 mins):Jifflenow And ITN International Bring Cutting-Edge Badge Scanning Technology To B2B Events 2Jifflenow And ITN International Bring Cutting-Edge Badge Scanning Technology To B2B Events 3First Bank Partners with Crossmatch to Increase Log In Security 2First Bank Partners with Crossmatch to Increase Log In Security 3Industrial Security Systems Market Worth $38 Billion by 2020 2Industrial Security Systems Market Worth $38 Billion by 2020 3
... COLUMBUS, Ohio The wasting disease associated with some ... also cause significant damage to the heart, new research ... muscle wasting and dramatic weight loss, was believed to ... showed that the condition reduces heart function and changes ...
... pathogens that were once thought to be very different ... are not only similar but also suggest that in ... according to a review published this week in the ... used by bacterial and fungal species to promote genetic ...
... The National Institute of General Medical Sciences has awarded ... for a study titled "Expression Genetics in Drug Therapy." The ... and reduce the number of adverse drug reactions among patients ... State as a member of a nationwide Pharmacogenomics Research Network ...
Cached Biology News:Muscle wasting in cancer does not spare the heart 2Muscle wasting in cancer does not spare the heart 3Linking microbial sex and virulence 2$9.1 million grant to improve drug therapy using gene profiles 2$9.1 million grant to improve drug therapy using gene profiles 3
BD Falcon 850 cm Smooth-surface TufRol Roller Bottle, tissue-culture treated polystyrene, blow-molded one-piece design, with easy on/off non-vented cap. (2/sp, 20/ca) Packaging: 2 / pack, 20 /...
... Display Vector is specifically designed to target ... of Saccharomyces cerevisiae. Displayed proteins can be ... known or putative ligands. pYD1 uses the ... two domains, Aga1 and Aga2, to display ...
... are used for heterologous protein expression in the ... S2 cell line was derived from a primary ... Drosophila melanogaster embryos (1). This versatile ... CO2 and is easily adapted to suspension culture. ...
ACS Reagent Grade C 19 H 14 O 5 S Formula Weight: 354.38 PRODUCT SPECIFICATIONS Form: Rust/red crystalline powder Clarity of Solution: Passes test Visual Transition Interval: pH 6.8 - Yellow pH 8.2...
Biology Products: